India Records Major Poverty Reduction Between 2011 and 2023, Says Piyush Goyal Citing World Bank Report

According to the figures highlighted by Goyal, around 49.6 crore people moved above the lower-middle-income poverty threshold of $4.20 per day between 2011 and 2023. During this period, the poverty rate at that threshold declined from 57.7 per cent to 16.1 per cent.

The minister also cited a decline in extreme poverty, measured at $3 per day under 2021 purchasing power parity (PPP), from 27.1 per cent to 2.6 per cent over the same period.

In a post on X, Goyal attributed the progress to targeted government policies, structural reforms and governance under Prime Minister Narendra Modi.

The minister also pointed to employment growth, stating that total employment increased by 13.4 crore between 2017 and 2023, nearly twice the increase in the working-age population.

He said rural women had played a significant role in the changing employment landscape by entering paid work in greater numbers, contributing to household incomes. Goyal added that rural India had recorded faster progress, helping narrow the historical gap between rural and urban areas.

Gains in Electricity Access and Social Protection

Goyal further highlighted improvements in access to basic services, stating that electricity coverage had reached 99 per cent of the population.

He said the World Bank report identified stronger household consumption, increased participation of women in employment and wider social transfers as important contributors to the reduction in poverty. These transfers included food security measures and direct benefit delivery.

Describing the reported gains as evidence of progress in living standards, Goyal said public trust in governance remained central to the government's development agenda.

He said the government would continue working to expand economic opportunities and advance its vision of a self-reliant and developed India, or Viksit Bharat.